Corporate innovation is an increasingly important topic that has attracted great attention from academic researchers in financial economics in recent years. Although the top three finance journals (i.e. the Journal of Finance, the Journal of Financial Economics, and the Review of Financial...

In this paper, we examine the relation between innovation and a firm's financial dependence using a sample of privately-held and publicly-traded U.S. firms. We find that public firms in external finance dependent industries spend more on R&D and generate a better patent portfolio than their...

In this paper, we examine the relation between small and medium-sized (SMEs) capacity to access external capital and innovation in Vietnam. We find that SMEs with a high debt ratio tend to be more innovative. After controlling for several firm characteristics, long-term debt remains...

While finance is a critical input to the innovative process, it is often difficult to obtain, particularly in developing economies with less well-developed financial markets. As innovation is a central driver of growth, it is therefore important for policymakers to understand how different...

Each country is required to have a clearly formulated and detailed national strategy in the transition period for the purpose of management, stimulation, assessment and funding of innovative technology development process. A range of various funding sources includes private venture capital...